Cameron Diaz

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Cameron Diaz gets major paparazzi attention whenever boyfriend Alex Rodriguez is on her arm, but now she'll be getting major money for something else that's on her arm.

No, not her bulging biceps...

Guess again.

Watches! But not just any type of watch.

E! News can exclusively report that Diaz has agreed to a deal with upscale Swiss watch company Tag Heuer to endorse its pricey timekeeping products!

We're told the multi-million dollar deal will feature Diaz as a brand "ambassador" much like Leonardo DiCaprio has in the past. The source says the worldwide ad campaign will appear in print and will continue for multiple years.

Other famous celebs that were the face of Tag Heuer include Tiger Woods and tennis star Maria Sharapova.

"Cameron doesn't do many endorsements, so the company thinks she will make a big splash," explains our insider.

We're sure being smokin' hot helps, too!

—Additional reporting by Sheena Rao

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